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  • Washington Weather Takes A Turn To Fall

    almost-fallWith the start of fall, here come the clouds and a forecast of rain for Washington.The National Weather Service says clouds will move into the state Monday with rain expected Tuesday night and Wednesday. Forecasters say the weather will remain unsettled… Read More +

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  • Washington State Teacher Of The Year 2015

    terryA fourth grade teacher from Seattle is the Washington state teacher of the year for 2015. Lyon Terry of Lawton Elementary specializes in helping students improve their writing and vocabulary. He runs the school's safety patrol and started the Walking School… Read More +

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  • Jays Rout Mariners 14-4

    mariners logo5Jose Bautista homered and reached base four times, J.A. Happ won for the first time in four starts and the Toronto Blue Jays dealt a blow to Seattle's wild card hopes, routing the Mariners 14-4 Monday night. Bautista went 3 for 3 with a walk and drove in two runs before getting the rest of the night off. His solo homer in the fifth against Mariners reliever Tom Wilhelmsen was his 35th.

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Bad Fit? Men's Wearhouse Rejects Jos. A. Bank's Offer

b_250_0_16777215_00_images_obgrabber_2013-10_647e8d3654.jpgJustin Sullivan/Getty Images (NEW YORK) -- Would a combined Men's Wearhouse and Jos. A. Bank make for a good fit?On Tuesday, when the latter confirmed it had offered to buy the former, the question hung briefly in the air. In a letter dated Sept. 18 but released on Wednesday, Robert Wildrick, chairman of Jos. A. Bank, told Men's Wearhouse CEO Douglas Ewert he was offering to buy all outstanding shares of Men's Wearhouse for $48 cash per share, or $2.38 billion in total, saying that he thought the two would make "ideal partners."

"The strategic wisdom of this transaction is compelling," declared Wildrick.  "By combining our two companies, we can together create the best men's apparel and sportswear designer, manufacturer and retailer in the U.S."

The combined companies, he said, would capture "operating synergies."

On Wednesday, however, Men's Wearhouse gave Jos. A. Bank the brush-off.  It rejected the offer as too little, saying in a statement that the deal significantly undervalued Men's Wearhouse's prospects.

Ewert said in the Men's Wearhouse statement that he and his board were confident that their recent actions, including their acquisition of boutique brand Joseph Abboud, had left the company well-positioned.

Howard Davidowitz, chairman of New York-based Davidowitz & Associates, a national retail consulting and investment banking firm, has been watching retail acquisitions succeed or fail for 40 years.  He shrugged off Men's Wearhouse's rejection as preliminary and pro forma.

"It's the job of the board to maximize price," he said.

He expected negotiations to continue, with Men's Wearhouse jockeying to get more money.

Copyright 2013 ABC News Radio

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